AUSTIN, Texas — The LaSalle Group, a seniors housing developer based in Irving, Texas, will break ground next week on its third Austin-area memory care property. The community, Autumn Leaves of South Austin, is slated to open in late 2016.
WESTON, Mass. — Nauset Construction has completed the construction of a 13-unit memory care neighborhood for Maplewood at Weston, an existing seniors housing community operated by Maplewood Senior Living in the Boston suburb of Weston.
ATLANTA — The seniors housing industry is undoubtedly in a seller’s market right now, with record-high sales prices and record-low capitalization rates. How, then, do investors find properties worth buying in such a hot market? Industry experts discussed this topic at a panel entitled “Investment Market Update: Who’s Buying, Who’s Selling & Will Velocity Keep Going Up and Cap Rates Keep Going Down?” at the recent InterFace Seniors Housing Southeast conference in Atlanta.
MCLEAN, VA. — Is new development good or bad for the seniors housing industry? The consensus is that it’s potentially good and bad.
MURFREESBORO, Tenn. — National Health Investors Inc. (NYSE: NHI) has named Eric Mendelsohn as the company’s president and chief executive officer. Mendelsohn was already the interim CEO following the departure of Justin Hutchens to HCP Inc. in August.
BLOOMINGDALE, Ill. — Seniors housing developer Koelsch Senior Communities has started construction on Lakeview Memory Care Community in Bloomingdale, about 25 miles west of Chicago.
CARMEL, Ind. — Mainstreet, a developer of skilled nursing and rehabilitation facilities based in the northern suburbs of Indianapolis, has hired seven new employees.
LAKE CITY, Mich. — Silver Arch Capital Partners has closed a $4.75 million loan for the owner/operator of Belle Oakes Living Center, a 48-unit, 32,000-square-foot assisted living facility on 20 acres in Lake City.
BONITA SPRINGS, Fla. — American House and REDICO, a national real estate development and investment firm, have broken ground on 88 independent living apartments in the third and final phase of American House Bonita Springs Senior Living community in Florida.
LAKE ZURICH, Ill., and ALBUQUERQUE, N.M. — CNL Health Care Properties has acquired two communities developed by Spectrum Retirement Communities, which will continue to operate the facilities. The purchase price was not disclosed.